Islamic financial market to broaden further

PETALING JAYA: Malaysian Industrial Development Finance Bhd (MIDF) believes the liberalisation and incentives for Islamic fund management companies and stockbroking firms will bring new funds into Malaysia. 

In a statement, group managing director Mohd Najib Abdullah said the move would broaden and increase the depth of the country’s financial market and accelerate the development of Malaysia as an Islamic financial hub. 

The elements of this budget would further boost investment, especially in the Islamic banking sector, and elevate Malaysia’s economic growth, Najib said, adding that MIDF fully supported the Government’s far-sighted initiatives and was confident a budget of strong and resilient nature would go a long way and bear fruit in the years to come.